On August 30, Capital Bond learned that after terminating the listing plan of Kechuang Board, Bai Oseatu turned to the Hong Kong Stock Exchange to submit a list for listing. Goldman Sachs Group and China International Capital Corporation are co-sponsors.

According to the prospectus, Beacaitu is a revenue-generating company for clinical biotechnology and preclinical research services, relying on proprietary gene editing technology, transgenic mouse platform, comprehensive animal patient model and high-throughput in vivo antibody discovery platform. Committed to the discovery, development and commercial production of the first and best antibody therapy or similar antibody therapy to meet the huge medical needs of the world.

Beacel optimizes the gene editing technology, and its self-developed SUPCE technology can be used for chromosome editing at the million base level with high reproducibility. In addition, the company's efficient gene editing (EGE) system based on the CRISPR/Cas9 gene target platform can increase the knock-in efficiency of large DNA fragments by about 20 times compared with CRISPR/Cas9 alone. The company has also developed mouse embryonic stem cells to generate a gene-edited mouse model.

As of the last feasible date, Byosai has 85 registered trademarks, 75 authorized patents and four software copyrights, and has filed 183 patent applications in 15 countries.

During the business record period, the company's revenue mainly comes from the provision of gene editing services, preclinical pharmacological and efficacy evaluation, model animal sales and antibody development. However, at present, the company has no products approved for commercial sale, nor has it received any revenue from the sale of candidate products.

According to the financial report, in 2019, 2020 and the first four months of 2021, the operating income of Bai Oseatu was 170 million yuan, 254 million yuan and 70 million yuan respectively (the same below).

As a result of continuing preclinical research and development, clinical development, soliciting regulatory approval of candidate products, launching pipeline products and increasing manpower to operate the business, the company expects expenditure to increase significantly in the next few years, especially increasing R & D expenditure and general and administrative expenses.

During the corresponding period, the company's research and development started at 159 million yuan, 276 million yuan and 135 million yuan respectively, and the corresponding net losses were 306 million yuan, 477 million yuan and 171 million yuan respectively.

In addition, the company relies on suppliers to provide stable and adequate equipment, consumables and other goods and services. A sharp increase in prices or supply disruption may cause disruption to the company's operations.

During the above-mentioned period, the company's total purchases from the five major suppliers were 187 million yuan, 504 million yuan and 108 million yuan respectively. The total purchases from the five major suppliers accounted for 57.1%, 60.1% and 43.4% of the company's total purchases, while the largest suppliers accounted for 24.0%, 26.9% and 17.7% of the company's total purchases, respectively.